A lot of YouTubers who have a sizable audience on their channel have already proven that they are really good at creating value and delivering value to their audience. But that doesn’t necessarily mean that they’re good at capturing value from them, and generating a good, decent income from the audience that they’ve created. Today I want to talk with you a little bit about a business model and how that can help you really plan out a strategy and a game plan for capturing value from your audience.
At Video Creators, we help YouTube creators know how you can grow your audience and your YouTube channel in a way that helps you spread a message that changes lives. And today we want to talk about the business side of all that that makes that concept sustainable for you. A lot of YouTube creators think, “Hey, if I just get lots of views and get really popular, that money will just somehow come my way”. And for some creators, that does work. You can just get 60 million views a month on your channel, get ad deals, and make a fair amount of money to live off of. But there are other more predictable ways and guaranteed ways to make an income from YouTube. Now when I first started on YouTube, my first channel, that was my mindset. Let’s just get the ad revenue.
What you’ve probably been doing on your channel this whole time without even realizing it is building a community of potential customers for you. But in order to really capitalize on that opportunity, you need to have a plan, a system in place, that will capture value from your audience as you deliver value to them through your videos.
If you’re like me, you’re the creative type of person and you’re not really into the whole business-y type of stuff. Which is why I want to point you to a resource that was so extremely helpful for me. And that is BusinessModelGeneration.com.
On their website, you can buy a book that was extremely helpful for me in bringing this all down to earth, making it visual in a very creative way. What that book is based on is what’s called a “business model canvas”. Here’s a short two minute video that explains how to use the business model canvas as well as provide you a place where you can enter in your e-mail address and go ahead and download that canvas yourself.
When I go back and look at my business model canvas now, one of the things I would tell you– a little tip for as you plan and prepare yours– is: whenever possible, put actual numbers down. Don’t just say, this is an idea that I would like to accomplish, but actual numbers and data behind it. Even if you don’t know, just take some guesses. That will help you start moving in the right direction to see whether or not– what’s viable, what’s not. Where you should focus your attention first, and all those types of things. Not just theoretical goals, specific goals.
I’ll also tell you that a lot of those things would come kind of naturally for you guys. As YouTubers, you already have a lot of these pieces in place. But the two biggest ones that you really need to focus on is what they call “customer segments”, or what we will call your “target audience”, which is who are you trying to target and who you are trying to reach. And then second, is the value proposition. The value proposition is simply the value that your channel delivers to your target audience. You should have a clear understanding of those, and once you do, write them down, memorize them, keep them as your focus.
Next, you need to have revenue streams and products that tie directly into that value proposition for that target audience. Sometimes honestly that target audience and that value proposition, they do take some time to figure out. And they’re always kind of changing and evolving as they have here on Video Creators. So don’t think it’s nailed in stone forever. It will continue to grow and evolve over time. So if you’re really serious about building a business around your YouTube channel and going full-time on it, much more quickly than you otherwise would, download the business model canvas down there below. Learn how to use it. Fill it out. Buy the book if you are super serious about it. And then start generating your business model and figuring out all those pieces.
I also want to hear from you in the comments below: What is your channel’s value proposition and target audience?
If this is your first time here, I would love to have you subscribe because we are going to continue to make videos to help you guys not just grow your audience and your YouTube channel, but also learn how to turn it into a business that sustains you and your family, and all the dreams and goals that you have for it.
CREATE A BUSINESS MODEL FOR YOUR CHANNEL
Step 1: Watch the 2 minute video here and download the Business Model Canvas. http://go.vcreators.co/1mY9Ce1
Step 2: Enter your email address here to download the 72 page preview of, “Business Model Generation,” book. http://go.vcreators.co/231sdqG
Step 3: After watching the video and reading the first section of the book, fill out the Business Model Canvas for your own channel and audience.
Buy the book, “Business Model Generation,” on Amazon: